Lagarde Meets China’s Wang to Seek Support for IMF Job

Christine Lagarde met Chinese Vice
Premier Wang Qishan today as she sought to garner support for
her campaign to become the International Monetary Fund’s next
managing director.

“I am here not to officially ask for China’s backing, but
I hope to introduce my bid,” the Xinhua News Agency reported
the French finance minister as saying. “China is very important
for the IMF.”

Lagarde is visiting China as part of her push to take over
the leadership of the IMF after Dominique Strauss-Kahn resigned
last month. While she has gained backing from European nations
for the post, emerging countries including China, India, South
Africa and Brazil have called for an end to the convention of
naming the IMF’s head from Europe.

Wang and Lagarde also discussed issues including the Group
of 20 summit in Cannes, France, in November and the reform of
the financial industry and international economic standards,
Xinhua said.

Mexico’s central bank Governor Agustin Carstens is also
vying for the IMF job, which the organization aims to fill by
the end of the month. Lagarde’s trip to China followed a visit
to India.